NUPRC Targets $50bn Offshore Investments by 2030
The NUPRC Chief Executive, Oritsemeyiwa Eyesan, disclosed this on Wednesday at the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026) of the Society of Petroleum Engineers (SPE) in Lagos.
Eyesan, who was represented by the Executive Commissioner, Development and Production, Enorense Amadasu, said the projects would boost oil and gas production, create jobs, expand infrastructure and strengthen Nigeria’s energy securty.
She said the projects form part of efforts to unlock Nigeria’s upstream investment potential and consolidate the country’s position as a leading destination for global oil and gas investments.
“Since 2024, the NUPRC has approved over US$57 billion in Field Development Plan (FDPs) some of which have translated to Final Investment Decisions.
“Twenty-two (22) major offshore projects are expected between 2026 and 2030 with an estimated investment potential of $30–50 billion,” she said.
According to her, the expected investments would go beyond increasing production, as they would also create employment opportunities, expand critical infrastructure and strengthen energy security.
Eyesan said Nigeria was also maintaining a strong pipeline of exploration opportunities to support long term growth and energy security while developing its proven oil and gas reserves.
She noted that successive licensing rounds since 2022 had opened access to some of the country’s most prospective oil and gas acreages.
The NUPRC chief executive cited the 2025 Licensing Round, where 31 companies emerged successful bidders for 37 oil and gas blocks following a data-driven and technology-enabled evaluation process.
She said preparations for the 2026 Licensing Round were already underway, adding that the process was expected to attract more investors due to the transparency that had characterised recent licensing rounds.
“With preparations already underway for the 2026 Licensing Round, Nigeria is demonstrating that investment certainty is no longer an aspiration; it is becoming an enduring feature of our regulatory framework,” she said.
Eyesan, however, identified infrastructure deficit as one of the major challenges undermining Africa’s energy potential.
She said Nigeria was tackling the challenge through investments in gas gathering systems, processing facilities, pipelines and export infrastructure.
The NUPRC boss added that the Commission was promoting shared facilities, open access, third-party access and field tiebacks to reduce costs, accelerate project delivery and maximise existing infrastructure.
According to her, the measures would also help unlock stranded oil and gas resources and bring them into production.
Eyesan further attributed improvements in the protection of critical energy infrastructure to stronger collaboration among government agencies, security agencies, oil and gas operators, host communities and private-sector partners.
She said the implementation of the Host Community Development Trust had also contributed to making Nigeria’s upstream sector more resilient.
